Indian shares opened higher on Wednesday, with Nifty reclaiming 10,900 levels, tracking gains in Asia after Federal Reserve Chairman Jerome Powell reinforced the US central bank’s recent shift toward a more “patient” approach on policy in the face of a slowing economy

Around 09:30 am, the S&P BSE Sensex was trading at 36,187, up 214 points while the broader Nifty50 was at 10,889, higher by 54 points.

In the broader market, the S&P BSE MidCap index gained 1.02 percent to 14,337, while S&P BSE SmallCap index was at 13,674, up 124 points, or 0.91 percent.

The benchmark indices closed sharply lower on Tuesday amid geopolitical tensions after a surprise air strike by Indian Air Force on Pakistan terror camps.

Yes Bank, JSW Steel, Adani Ports, Ultratech Cements and HPCL were top performers on the Nifty50 index while Wipro, NTPC and TCS lost the most.

All sectors except Nifty IT were trading in the green. Realty, metals, banks and auto sectors gained the most.

Nifty IT index fell nearly half a percent as rupee gained in the early deals. Wipro fell the most, down 1.8 percent followed by HCL Tech, TCS and Tech Mahindra.

Shares of Allahabad Bank were trading over 3 percent higher after the Reserve Bank of India (RBI) on Tuesday removed three commercial banks – Allahabad, Corporation and Dhanlaxmi - from the prompt corrective action (PCA) framework.

Globally, Asian shares edged higher on Wednesday. MSCI’s broadest index of Asia-Pacific shares outside Japan added 0.1 percent in early trade, not far from its five-month high marked on Monday.